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Tag: tax deduction

Posts Tagged ‘tax deduction’

Can I Deduct My W-2 Job Expenses?

Posted by Manisha Hansraj on March 28, 2019
Last modified: March 28, 2019

w-2 job expenses

The new tax season brought in a lot of changes, and your job expenses are one of them.

If you’ve noticed on your tax returns that you can’t deduct your W-2 job expenses for 2018, you’re partially correct. Unfortunately, not everyone can claim their out-of-pocket job expenses.

Here’s the breakdown.


The new tax laws have narrowed down on who claims their W-2 job expenses, mainly by their occupation.

You can only deduct your job expenses if you’re one of the following: (more…)

What do I do if someone else claimed my dependent?

Posted by Manisha Hansraj on October 16, 2018
Last modified: October 10, 2019

someone else claimed my dependent

In the worst case scenario, the IRS rejects your tax return.

Someone else claimed my dependent. What should I do? Luckily, the IRS gives you options in case you’re stuck in this situation.

Unfortunately, the IRS cannot disclose who claimed your dependent. Typically it’s either the other parent, their child claimed themselves as an exemption on their individual tax return, another member of the household such as the grandparent, or any other person that lived with the child for a portion of the year.

What you need to do.

If you’re filing a current year return, you may receive a rejection due to your dependent’s social security number. In this case, you should double-check that you reported their SSN correctly.

If it is reported correctly, you will need to paper file your return; meaning you must print, sign and mail your return to the IRS. You cannot e-file it since the IRS will reject it again.

You may receive a CP87A Notice which notifies each party that if they incorrectly claimed the dependent, they need to file an amended tax form. If you can rightfully claim the dependent, you do not need to respond to this notice. In order to dispute the claim of your dependent, you will need to attach a cover letter (more…)

Can I pay my federal taxes with a credit card?

Posted by Manisha Hansraj on September 10, 2018
Last modified: September 18, 2018

Can you pay federal taxes with credit card

The IRS can’t directly accept credit card payments due to tax laws.

However, they can accept payments through a third-party processor. For example, online tax preparation companies are third-party processors since they are designated by a merchant to handle transactions for merchant acquiring banks. They can then assist you in making your credit card payment towards your tax bill to the IRS.

Here’s what you need to be prepared for when you plan on using the credit route.

There are no flat fees when using your credit card.


Are Campaign Donations Tax Deductible?

Posted by admin on September 5, 2012
Last modified: December 20, 2016

Political contributions may help get your candidate elected, but they won’t get you a tax deduction

2012 is an election year – in case all the negative ads spamming the airwaves haven’t already tipped you off. And election season, like almost everything else, raises some very important tax questions, not all of them about Mitt Romney’s hidden returns.

With passions inflamed on both sides of the aisle, many Americans are so convinced that their candidate is the right one for the job that they make a campaign donation. An elect few are even running for office themselves, perhaps even out of their own pocket. It doesn’t take a tax geek to wonder what kind of impact these expenses will have come April 15.

We all know that donations to charity are tax deductible. For many people, the tax break from Uncle Sam is almost as big a motivating factor as altruism. It’s only natural to wonder if donations to a political campaign are tax deductible too.

The answer is no, political contributions are not tax deductible. You cannot deduct expenses in support of any candidate running for any office, even if you are spending money on your own campaign. Qualification and registration fees for primaries as well as a legal expenses related to a candidacy are not deductible either. (more…)